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LONDON, Nov. 24, 2016 /PRNewswire/ -- Global canned food market has shown a substantial growth in the recent year. The need for food requiring less preparation time which is also convenient to use, handle and store has boosted the global demand for canned food products. NOVONOUS estimates that Global canned food market will grow at a CAGR of 4.79% by 2020. This growth is mainly due to increasing economic activity, increase in demand due to rising awareness, urbanization, increasing middle class population, hectic and busy lifestyle of today's consumers and rising spending by governments on canned food for their armed services.

This study found that supermarkets and hypermarkets currently have the largest market share in Global Canned Food market among all distribution channels. As per NOVONOUS estimates, among all distribution channels supermarkets and hypermarkets are expected to grow at the highest CAGR till 2020 and maintain their leading position.

This study also found that among all canned products, vegetables have largest market share closely followed by meat then fish & seafood. As per NOVONOUS estimates, among all canned products, vegetables are expected to grow at the highest CAGR till 2020 and maintain their leading position.

In terms of geographies, North America currently controls the largest market share in Global Canned Food market. As per NOVONOUS estimates, North America Canned Food market is expected to grow at a CAGR of 6.25% till 2020.

This study found that supermarkets and hypermarkets currently have the largest market share in Global Canned Food market among all distribution channels. As per NOVONOUS estimates, among all distribution channels supermarkets and hypermarkets are expected to grow at the highest CAGR till 2020 and maintain their leading position even in 2020.